Double acquisition boosts Digital Marketing Group
Friday, October 03, 2008
AIM-listed Digital Marketing Group has ramped up its service offering by acquiring two new businesses for a combined maximum total of £15 million.
The companies include Cybercom, a London based IT systems consultancy and systems integrator, and Gasbox, a company which develops and executes direct voice marketing campaigns.
Ben Langdon, Digital Marketing Group’s chief executive, said the addition of Cybercom would bring new expertise and skills into the group and complement its exisiting digital marketing offering.
“E-commerce represents a substantial growth opportunity and the acquisition of Cybercom strengthens our position to capitalize on it,” he said.
Langdon added that the acquisition of Gasbox would bring to DMG a new route to deliver and leverage its Digital Brain offering.
DMG paid £6.0 million in cash for Cybercom and an initial £1.0 million in cash for Gasbox, with a maximum deferred consideration of £9.0 million in shares and options.
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